Off-Plan
In plain English: Buying a new-build home before it's finished — sometimes before construction has even started.
What off-plan buyers actually get
- A reservation (fee refundable in some schemes)
- A contract with delivery window, specifications and price locked
- A completion date tied to practical completion of the build
- A defect rectification period after you move in
Common pitfalls
- Delay: builds slip by 3–12 months routinely
- Downvaluation at completion if the market weakens
- Lease terms on leasehold new-builds — always read the draft lease before reserving
Where Offrly fits
Before you reserve, a free Offrly valuation on the closest equivalent second-hand unit is a useful reality check on the developer's asking price.
Why Offrly? It's the free photo-aware AI valuation — the AI reads each comparable's photos the way a seasoned property analyst would, and a hyperlocal regression resolves prices down to the street rather than the postcode. Live comparables on every query. About 30 seconds, no signup, no email.
Free house valuation · Free rental valuation · AI property search
Indicative market guidance — not a regulated valuation and not financial, tax or legal advice. Use a RICS-qualified surveyor for mortgage, insurance or probate purposes.
Related terms
- Exchange of contracts — off-plan usually exchanges years before completion
- Stamp duty — still due on off-plan purchases at completion
- Loan-to-value — mortgage offers expire — watch the gap to completion
Put the term into practice
Get a free UK house or rental valuation, or search live listings in plain English.
Open Offrly →FAQ: Off-Plan
Is buying off-plan a good idea?
It can be — early buyers sometimes get preferential pricing and choice of unit — but the price paid is locked in years before completion, and market and construction risks can move either way.
What if the developer goes bust?
NHBC, Premier Guarantee or similar new-home warranties cover developer insolvency to varying extents. Read the scheme details before exchange.
What's the mortgage risk?
Mortgage offers are typically only valid for 6 months. If completion slides past that, you remortgage and may be on worse terms than originally expected.